A Plymouth medical office building has been purchased for $11.9 million.
The Plymouth City Center Medical Building, located near the intersection of 36th Avenue N. and Vicksburg Lane, was sold to Texas-based USAA Real Estate and HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate.
The more than 45,000-square foot property has several tenants including North Clinic, North Memorial and the Institute for Athletic Medicine.
The seller was Minnetonka-based BTO Development, which was recently acquired by Frauenshuh Commercial Real Estate Group.
“This building and location are highly strategic for North Clinic and offer prospective tenants new, high-quality medical office space near the leading primary care provider in the market,” Jon Boley, senior vice president of acquisitions and development at HSA PrimeCare, said in a statement. “We’re looking forward to partnering with local healthcare providers and further expanding HSA PrimeCare’s healthcare real estate services into the Minneapolis market.”
HSA PrimeCare will be jointly managing the building with Frauenshuh, and Colliers, which represented BTO in the sale, has been retained for leasing.
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